Tad Baldwin, of Bells Lane, allegedly entered the Pioneer Savings Bank at 2:20 p.m. Tuesday and demanded cash from employees, Waterford Police said. The suspect was wearing a black hoodie, bandana and sunglasses, police said in a statement, but he did not display a weapon.

Baldwin, who court officials said has two prior felony convictions and had been charged with two more felonies in June, allegedly fled following the theft and was last seen heading west on Van Ness Street, police said. A Troy police officer spotted the suspect vehicle at about 7:15 p.m.

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Baldwin and a Troy man who was also in the vehicle were arrested shortly thereafter, authorities said.

Baldwin was arraigned in Waterford Town Court the charges Tuesday and sent to Saratoga County Jail without bail, Waterford Police said in a statement. Monahan was due in Troy City Court Wednesday. Waterford Public Safety Commissioner John Tanchak said Monahan was not involved in the robbery.

Tanchak said "a good amount" of cash was stolen from the bank, though investigators did not have the full total from the bank as of Wednesday morning. An undisclosed amount of cash has been recovered during the investigation, police said in a statement.

Mechanicville Police have said the victim in that case had made arrangements with Sheila Darmetko, who was managing Kearney's Service Center, to ship the vehicle overseas, but it never arrived.

Baldwin, who Mechanicville Police said was employed at the service center, was accused of forging a title, which Mechanicville Police have said allowed the Altima to be sold to a Mechanicville car dealership for $8,700. It was then sold to a Connecticut dealership and then a new buyer, police have said.

Baldwin posted $15,000 bail at a June 6 court appearance and was released from police custody, Mechanciville court officials said. He is scheduled to answer that charge on Aug. 21, court officials said.

Darmetko, who is also known as Sheila Bechand, was charged with three counts of grand larceny and one count of scheme to defraud, all felonies, in that case. She is due back in court Aug. 7, court officials said.

Saratoga County District Attorney James A. Murphy III was not immediately available for comment.

It is the second bank robbery in Saratoga County in recent months. In May, 31-year-old Nigel Guy was charged with robbery after he allegedly held up a Ballston Spa branch of Adirondack Trust Company at gunpoint.

Waterford Village Mayor J. Bert Mahoney said Wednesday morning the incident was the first bank heist in the village that he could recall in his lifetime, but he remembered reading about a historic Waterford robbery in the Crimes in Time Journal.

In that 1871 heist, Mahoney said the robber stole the modern-day equivalent of $40 million in stocks, securities, bonds and cash from a bank at Second and Broad Streets.